Radnor Capital Management LLC Has $488,000 Stock Holdings in First Horizon Co. (NYSE:FHN)

Radnor Capital Management LLC raised its holdings in First Horizon Co. (NYSE:FHNFree Report) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,450 shares of the financial services provider’s stock after buying an additional 4,200 shares during the period. Radnor Capital Management LLC’s holdings in First Horizon were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of First Horizon by 4.2% during the third quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock valued at $625,661,000 after purchasing an additional 2,276,977 shares in the last quarter. State Street Corp lifted its position in shares of First Horizon by 5.7% during the second quarter. State Street Corp now owns 24,689,257 shares of the financial services provider’s stock valued at $281,883,000 after purchasing an additional 1,321,075 shares in the last quarter. North Reef Capital Management LP lifted its position in shares of First Horizon by 137.9% during the third quarter. North Reef Capital Management LP now owns 8,900,000 shares of the financial services provider’s stock valued at $98,078,000 after purchasing an additional 5,158,750 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of First Horizon by 4.8% during the second quarter. Geode Capital Management LLC now owns 7,973,123 shares of the financial services provider’s stock valued at $89,710,000 after purchasing an additional 365,205 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of First Horizon by 9.9% during the first quarter. Royal Bank of Canada now owns 7,849,284 shares of the financial services provider’s stock valued at $184,381,000 after purchasing an additional 704,662 shares in the last quarter. 76.44% of the stock is owned by institutional investors.

First Horizon Trading Up 1.9 %

Shares of FHN opened at $15.22 on Thursday. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 4.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.95. First Horizon Co. has a fifty-two week low of $8.99 and a fifty-two week high of $18.99. The firm has a 50 day moving average price of $14.25 and a 200-day moving average price of $12.88.

First Horizon (NYSE:FHNGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $784.20 million. First Horizon had a net margin of 17.80% and a return on equity of 9.94%. During the same period in the previous year, the business posted $0.51 EPS. As a group, equities research analysts forecast that First Horizon Co. will post 1.42 earnings per share for the current year.

First Horizon announced that its board has approved a share buyback plan on Tuesday, January 23rd that permits the company to buyback $650.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.94%. First Horizon’s payout ratio is 39.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FHN. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of First Horizon in a report on Friday, January 19th. Barclays began coverage on shares of First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 target price for the company. Citigroup began coverage on shares of First Horizon in a research note on Friday, December 1st. They issued a “buy” rating and a $14.00 target price for the company. Wells Fargo & Company lifted their target price on shares of First Horizon from $11.50 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 6th. Finally, StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.68.

View Our Latest Stock Analysis on FHN

About First Horizon

(Free Report)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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